Can Nike Just Do It in China, Trade Deal or No Trade Deal?
Nike reported a rare earnings miss following the closing bell on June 27.
Nike said diluted earnings for its fourth quarter came in at 62 cents per share, four cents shy of Wall Street's expectations.
The miss was attributed to higher marketing costs.
Investors had also feared slowing growth in China, but Nike actually saw 16 percent growth in footwear sales in Greater China.
As investors wait for clarity on trade relations between the U.S. and China, do tariffs still pose a threat for the shoemaker going forward?
Action Alerts PLUS senior analyst Jeff Marks weighs in.
"Demand was very, was very healthy.
Both in the U.S. and in China.
And I think that kind of speaks to Nike being this global iconic brand.
If I actually went back on the, on the conference call, I counted 34 times that "brand" was mentioned and that, that really is what Nike is.
And, and that's why Nike has been so resilient throughout this, this whole trade war," said Marks.
Despite 4Q Revenues, Nike May Run into Tariff Trouble